A tepid jobs report for the month of May along with European fears, including news/rumours of Spanish banking withdrawals left the S&P 500 Index at 1278, down more than 3% for the week.
More Ominously, the U.S. Ten Year Treasury Note closed at a record low of 1.47%. Even more astounding yet, the The German Two Year Bund Yields fell to Zero.
Next Week’s Potential Market Moving Events:
Wednesday:
Federal Reserve Biege Book Report
European Central Bank (ECB) Meeting
Thursday:
Ben Benranke testifies before the Joint Economic Comiittee
Spanish Bound Auction
WEEKLY SECTOR ETF PEFROMANCE
ETF Sector Perfrmance | ||||||||||
Week Ended June 1, 2012 | ||||||||||
Q1 | Weekly | 2QDT | YTD | |||||||
S&P 500 Index | 12.0% | -3.0% | -9.3% | 1.6% | ||||||
XLF | Financials | 21.9% | -3.8% | -14.6% | 4.1% | |||||
XLU | Utilities | -2.6% | -0.2% | 1.9% | -0.8% | |||||
XLB | Materials | 10.8% | -2.6% | -10.5% | -8.0% | |||||
XLP | Consumer Staples | 5.4% | -2.2% | -2.7% | 2.6% | |||||
XLY | Consumer Discretionary | 15.9% | -3.6% | -7.4% | 7.3% | |||||
XLV | Health Care | 9.0% | -2.5% | -5.6% | 2.9% | |||||
XLI | Industrial | 11.4% | 3.5% | 9.9% | 0.4% | |||||
IYW | Technology | 21.9% | -3.6% | -13.8% | 5.1% | |||||
IYZ | Telecom | 6.2% | -1.7% | -6.6% | -0.8% | |||||
AGG | Aggregate Bond | 0.1% | 0.8% | 2.2% | 2.4% | |||||
TIP | TIPs Bond | 0.8% | 1.2% | 4.2% | 5.1% | |||||
LQD | Inv. Grade Corp Bond | 2.3% | 1.6% | 2.5% | 4.9% | |||||
GLD | Gold | 12.0% | -3.0% | -9.3% | 1.6% |
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